Ch 33: PLACE Business Education: Economic Indicators

About This Chapter

Review how business and economy relate in this chapter on economic indicators. The PLACE Business Education test may evaluate how well you understand many of the topics covered in this chapter.

PLACE Business Education: Economic Indicators - Chapter Summary

The short videos in this chapter will help you study economic terminology and how it pertains to business management. The lessons coach you on the following subjects in preparation for the PLACE Business Education test:

  • Definition of gross domestic product
  • The business cycle and productivity
  • Calculating and viewing the unemployment rate
  • Consumer price index and cost of living and inflation considerations
  • How business and economies are designed to grow over time
  • Differences between economic recessions and depressions
  • Normal and abnormal economic variations

Our videos are designed to be easy to use and fun to watch. Skilled instructors present information in simple terms and none of our videos last more than ten minutes. You can use the accompanying video transcripts to make sure you didn't miss any crucial vocabulary terms.

PLACE Business Education: Economic Indicators Chapter Objectives

The Economic Indicators chapter is designed to help you during the Economics and Personal Finance section of the PLACE Business Education test. The Economics and Personal Finance portion is one of five subareas contained in the exam. All of the questions are multiple choice and may ask you about general principles of macro- and microeconomics, as well as how to use these principles in business.

11 Lessons in Chapter 33: PLACE Business Education: Economic Indicators
Test your knowledge with a 30-question chapter practice test
Gross Domestic Product: Definition and Components

1. Gross Domestic Product: Definition and Components

Learn how economists measure the total production of an economy using gross domestic product (GDP). This lesson also outlines the components that make up a GDP. How do we calculate the economic value of a nation?

Real Output, Price Level and the Real Gross Domestic Product

2. Real Output, Price Level and the Real Gross Domestic Product

GDP is an important economic indicator, and it must be understood to be analyzed. In this lesson, you'll learn how price levels impact output and GDP and how real GDP can be calculated.

Defining and Measuring the Unemployment Rate

3. Defining and Measuring the Unemployment Rate

You've probably heard about the unemployment rate, especially given how high it was in the 2008 recession. Find out how economists define unemployment, what the unemployment rate is, and how to calculate it in this lesson.

The Business Cycle: Economic Performance Over Time

4. The Business Cycle: Economic Performance Over Time

Learn the economic terms that describe economic performance over time and how indicators such as unemployment and inflation behave throughout these economic fluctuations.

Productivity: The Economy's Long-Run Growth Engine

5. Productivity: The Economy's Long-Run Growth Engine

Using real-world examples, you'll learn more about what productivity is and four things that determine it within a nation - physical capital, technology, human capital, and natural resources.

Consumer Price Index: Measuring the Cost of Living and Inflation

6. Consumer Price Index: Measuring the Cost of Living and Inflation

In this lesson, you'll learn what the Consumer Price Index is and how it measures changes in the level of prices in an economy. You'll also learn about the important economic concepts of inflation and deflation. Why do prices always seem to be going up?

Recession vs. Depression: Definitions and Differentiation

7. Recession vs. Depression: Definitions and Differentiation

Discover the real differences between recession and depression, including how economists actually define the two terms and when they have happened in the past.

Economic Fluctuations: Definition & Model

8. Economic Fluctuations: Definition & Model

Economies go up, and economies go down. In this lesson, you'll learn about economic fluctuations, including what they are as well as look at the dominant model.

Economic Slowdown: Definition & Overview

9. Economic Slowdown: Definition & Overview

Economies fluctuate up and down. Sometimes economies will speed up, and sometimes they will slow down. In this lesson, you'll learn about economic slowdowns and their role in the business cycle.

Economic Output: Definition & Overview

10. Economic Output: Definition & Overview

Economic output is one of the most important economic measures for a country. In this lesson, you'll learn what economic output is as well as some related concepts.

What is an Economic Trend? - Definition & Overview

11. What is an Economic Trend? - Definition & Overview

Buying groceries or borrowing money are just two ways economic trends play a part in our daily lives. In this lesson, we will look at a few of the most significant economic trends to understand how they affect us.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the PLACE Business Education: Practice & Study Guide course

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